Media News: Alibaba Cloud plans to raise up to 20 billion RMB through a non-public offering before its IPO in Hong Kong.

According to a report from Asdak Finance citing Bloomberg, Alibaba Cloud is considering a round of private financing before its Hong Kong listing, aiming to raise funds from mainland state-owned companies.

Insiders say that Alibaba is working with advisors on potential financing for its cloud intelligence business, with a possible fundraising target of around 10 to 20 billion yuan (approximately 1.4 to 2.8 billion US dollars). The sources also mentioned that potential investors include state-owned telecommunications companies.

The report states that these considerations are still in the preliminary stage, and the details of the financing, such as scale and timing, may change.